Just two days after Tea Party groups across the country protested
Tax Day, the April 15 deadline by which Americans have to file their
income fax forms, the House's second-most powerful Republican railed on the
president and congressional Democrats in his party's radio address,
stressing their approach to fiscal issues would only "make the 'tax
days' of the future much, much worse."

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Cantor predicted Democrats would pursue "more tax increases on
income, capital gains and dividends" in the coming months, on top of
additional spending proposals. And he cited an unnamed study that found
the country's rising budget deficit would require lawmakers to raise
more than half a trillion dollars a year in new revenue, which he said
would cause tax rates on those making more than $200,000 to "skyrocket
to well over 70 percent."

"President Obama has signed 25 tax increases passed by the
Democratically controlled Congress into law that will cost families and
small business people more than $670 billion over the next 10 years,"
Cantor said, noting Obama had broken his campaign promise not to raise
taxes on those making less than $200,000

“The Democrats control every lever of power in Washington and
they’ve never met a tax they didn’t like or found a dollar they
couldn’t spend," he added. "Their economic plan? You pay, they spend,
your children owe. You deserve better."

The White House is sure to take issue with Cantor's
characterization of the president's tax and spending record, as the
Obama administration has long stressed that its $787 billion federal
stimulus saved the economy from the brink and offered a slew of new tax
breaks to millions of Americans.

At a speech before the New York
Historical Society this week, Volcker suggested the introduction of a
"value-added tax" (VAT) would help lawmakers raise enough revenue to
offset the country's burgeoning budget deficit without cutting
entitlement spending. “If at the end of the day we need to raise taxes,
we should raise taxes,” Volcker told the crowd.

However, the remark promptly sent the White House into
damage-control mode, stressing it was not exploring a VAT and that
Volcker was only speaking for himself. But the remark nonetheless
infuriated Republicans, who charged it was wrong for the White House to
even consider a tax increase during a recession.

Ultimately, Cantor derided Volcker's proposal as "European,"
stressing it was evidence voters would soon begin "paying more and
more." He consequently implored voters to carry what he described as
Tax Day frustrations to the polls this November.

“Down one path is the Democrats’ a trillion dollar healthcare
overhaul, a stimulus law that failed to meet expectations for job
creation, the taxpayer funded bailouts of private companies, and a
cap-and-trade policy that will impose a massive energy tax upon all
Americans, Cantor explained. “But take hope. Down the other path is
responsible, adult leadership, focused firmly on job creation and
economic opportunity."